Triple RD1.5 Lot Assemblage Strohm Ave. North Hollywood, CA 91601
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- Madeleine Casey
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1 Proposed Escrow Timeline Contract Date Day 1 Contingency Removal Day 30 Escrow Close Day 60 Potential to build 18 units utilizing SB1818; all parking within at-grade podium garage Proposed scenario above applies to both apartment and condominium [2] units must be designated very low income [9] 3-bed 1,900 SF + [9] 2-bed 1,600 SF + 18 unit parking configuration and conceptual massing example contained herein 18,766 SF of land + 20 alley - existing rented SFR on each lot One block west of the City of Burbank No submitted plans or TTM $2,050,000 Evanisko Realty & Investment, Inc. BRE
2 Great Parking: Parking configured entirely atgrade will exceed city requirements for both apartment and condo buildout scenarios. Large Units: Site will comfortably accommodate units 1,600-1,900 + SF based on massing depicted above. By-right FAR will technically allow 18 units up to 2,400 + each. 18 unit concept pictured above configured by Office P.S. Architects contemplates 47 parking spaces within at-grade podium garage. Three stories of units above. The proposed configuration contained herein applies to both condo and apartment build-out. The site lies just outside of the North Hollywood CRA boundary. [2] units must be designated very low income [1] 3-bed unit must sell circa $200,000 or rent circa $776/mo. [1] 2-bed unit must sell circa $150,000 or rent circa $699/mo. [9] 3-bed 1,900 SF + [9] 2-bed 1,600 SF + Evanisko Realty & Investment, Inc. BRE
3 2 This brochure has been prepared to provide summary, unverified information to interested parties, and to establish only a preliminary level of interest in the subject development opportunity. The information contained in this brochure has been obtained from sources we believe to be reliable. However, Evanisko Realty & Investment, Inc. has not verified, and will not verify, any of the information contained herein, nor has Evanisko Realty & Investment, Inc. conducted any investigation regarding theses matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All interested parties must take appropriate measures to verify all of the information set forth herein. All offers and correspondence regarding this opportunity are to be directed to: Frank Evanisko (818) frank@evaniskorealty.com
4 3 LOT # Strohm Ave. APN: Lot Size: 6,250 SF SFR: 1,298 SF [2+1] YBLT: 1947 Lease Rate: $1,900 LOT # Strohm Ave. APN: Lot Size: 6,250 SF SFR: 1,074 SF [3+1] YBLT: 1949 Lease Rate: $2,300 LOT # Strohm Ave. APN: Lot Size: 6,266 SF SFR: 806 SF [2+1] YBLT: 1948 Lease Rate: $1,700 Each SFR currently on a month to month tenancy Existing Improvements
5 Triple Lot Assemblage
6 5 A rare triple lot assemblage of multifamily-zoned property located in North Hollywood just steps from the City of Burbank. The site consists of three adjacent RD1.5 lots totaling 18,766 sq. ft. of land. Evanisko Realty & Investment, Inc., has retained the Los Angeles architecture firm Office P.S. for the purpose of devising an 18-unit condominium/apartment development scenario [utilizing bonus density] with all parking configured at-grade. The parking study and renderings should only be used as an initial benchmark for establishing the development potential of the property as Broker and Seller make no representations or warranties regarding the development potential of the property or the accuracy of the scenario presented. Land Area: 18,766 SF + Alley Existing Improvements: Three SFR Zoning: RD1.5-1 FAR: 3:1 Topography: Flat Site Dimensions: Approx 150 X 125 Council District: CD 2 Paul Krekorian Price: $2,050,000 Property Summary
7 6 47 Parking Spaces Possible Parking Configuration Office P.S. Architects
8 7 East Elevation North Elevation South Elevation West Elevation The renderings above contemplate an 18-unit development scenario (condos or apartments) utilizing SB parking spaces can be configured within an at-grade podium garage which exceeds the required parking for both apartment and condo scenarios. Two of the 18 units will be designated very-low income. The aforementioned proposed scenario will accommodate: (9) 3-bed 1,900 SF + each (9) 2-bed 1,600 SF + each Contemplated 18-Unit Renderings Office P.S. Architects
9 8 MBK Homes ½ Mile North 27 Small Lot Homes ON MKT Subject Site City of Burbank NoHo Metro Station NoHo 14 Meta Senior Artist Chandler Partners 156 Unit Apartment Under Construction The Hesby New 308 Unit Apartment 15 Unit Site Sold 4/1/2014 Peach Grove 10 Attached Townhome Condo Nearing Completion North Hollywood Activity
10 9 New Construction 10 Attached Townhome Condominiums W. Peach Grove St. Unit Size: Approx 1,790 SF Pricing: $700K s each Subject Site City of Burbank Approx 1 Mile South North Hollywood Activity Condo Development
11 10 Entitled 15-Unit Condo Development Site Camarillo St. 14,700 SF Lot R3/C2 Land Sale: 4/1/2014 Approximate Land Sales Price: $2,000,000 Subject Site City of Burbank Approx 1.25 Miles Southwest North Hollywood Activity Land Comp
12 11 The Hesby 5031 Hesby St. 308 Apartments Completed $2,100-$2,750/Mo. 2+2 $2,665-$3,100/Mo. Subject Site City of Burbank Approx 1.25 Miles Southwest North Hollywood Activity No Ho Rental Rate New Const.
13 12 North Hollywood Metro Station Red Line Orange Line Approx.85 Miles West Subject Site City of Burbank North Hollywood Activity Public Transportation
14 13 Vineland Metro MBK Homes 27 SLO For Sale Approx 1.3 Miles Northwest 6550 N. Vineland Ave. North Hollywood, CA Unit Size: Approx 1,629 SF Unit Sales: $438K-$460K Subject Site City of Burbank North Hollywood Activity SLO Sales
15 14 List Price ADOM Sale Price BR BA YBLT SF Min $389,500 6 $425, ,400 Max $1,790, $2,150, ,000 AVG $666, $673, ,612 ** Data Source: SRAR ** Closed sales average $417/FT. 1-Mile Radius - Closed SFR Sales 1,400-2,000 SF Since 6/1/2014
16 15 Parcel Map
17 16 For condominium construction financing contact: Miles McClain Production Officer Southern California Home Builder Lending Office Mobile Financing Contact
18 17 Evanisko Realty & Investment, Inc. has been retained on an exclusive basis by ownership to handle the marketing and disposition of this land asset. Price: $2,050,000 SUBMIT ALL INQUIRIES TO: ALL PROPOSALS WILL BE REVIEWED BY LANDOWNER AND BROKER AS RECEIVED. For additional information/guidance on this and other development opportunities contact: Evanisko Realty & Investment, Inc. (818) Evanisko Realty & Investment, Inc. BRE: Transactional Information
19 18 No Ho Core Apartment Land Activity Burbank Blvd. Burkill LLC 36,847 SF Land Entitled 125 Units [14 Low Income] Chandler Blvd. Prudential Financial 25,498 SF Land ON MKT [In Contract] 5508 Klump Ave. NoHo Mission Apartments LLC 36,270 SF Land R4 CRA Sold 11/21/13 Entitled 84 Unit Site 5401 Lankershim Blvd. Prudential Financial 36,155 SF Land C4 CRA ON MKT [In Contract] +/- $5.5M Albers St. Private Owner 18,024 SF R4 CRA Triple Lot Assemblage 5518 Bonner St. Bonner LLC 14,510 SF Land R4 CRA Sold 11/7/13 Under Const. Circa $1,650, Case Ave. Aria Venture Capital LLC Zoning: R4 CRA Sold 7/31/14-90 Units Proposed Otsego St NoHo LLC 29,681 SF Land R4 CRA SOLD 8/15/14 Circa $4,000, Cumpston St Cumpston LLC 11,857 SF Land R4 CRA 25 Units 2+2 $2, $1,895 Almost Complete No Ho Station Chandler Blvd. Babak Akhavan 25,347 SF R4 /C2 SOLD 8/12/13 Price?? Prudential Financial 7 Total Acres C4 CRA +/- 800 Potential Units Evanisko Realty & Investment, Inc. BRE
20 10
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